First Mid Bancshares (NASDAQ:FMBH) Releases Earnings Results, Meets Expectations

First Mid Bancshares (NASDAQ:FMBH) released its earnings results on Thursday. The bank reported $1.06 earnings per share for the quarter, meeting the consensus estimate of $1.06, FiscalAI reports. The firm had revenue of $90.14 million during the quarter, compared to analyst estimates of $67.86 million. First Mid Bancshares had a net margin of 18.77% and a return on equity of 10.27%.

First Mid Bancshares Stock Down 0.3%

Shares of NASDAQ:FMBH traded down $0.12 during midday trading on Thursday, reaching $41.94. The company had a trading volume of 41,364 shares, compared to its average volume of 101,523. First Mid Bancshares has a 1-year low of $27.58 and a 1-year high of $44.32. The stock has a market cap of $1.01 billion, a PE ratio of 11.49 and a beta of 0.90. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.37. The business’s 50 day moving average price is $40.27 and its 200 day moving average price is $38.83.

Insider Transactions at First Mid Bancshares

In related news, CEO Clay M. Dean sold 1,099 shares of the stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $42.69, for a total value of $46,916.31. Following the sale, the chief executive officer owned 9,624 shares in the company, valued at approximately $410,848.56. This represents a 10.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On First Mid Bancshares

A number of hedge funds and other institutional investors have recently bought and sold shares of FMBH. Strs Ohio acquired a new position in First Mid Bancshares in the first quarter valued at $42,000. Aquatic Capital Management LLC raised its position in First Mid Bancshares by 272.5% in the 3rd quarter. Aquatic Capital Management LLC now owns 1,438 shares of the bank’s stock valued at $54,000 after buying an additional 1,052 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of First Mid Bancshares by 32.0% during the 2nd quarter. Federated Hermes Inc. now owns 1,710 shares of the bank’s stock worth $64,000 after buying an additional 415 shares in the last quarter. Quantbot Technologies LP boosted its holdings in shares of First Mid Bancshares by 113.0% in the 2nd quarter. Quantbot Technologies LP now owns 2,394 shares of the bank’s stock worth $90,000 after buying an additional 1,270 shares during the last quarter. Finally, Quadrant Capital Group LLC bought a new position in First Mid Bancshares during the third quarter valued at $128,000. Institutional investors own 47.57% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of First Mid Bancshares in a research note on Monday, December 29th. Piper Sandler dropped their price target on First Mid Bancshares from $49.00 to $48.00 and set an “overweight” rating on the stock in a research report on Monday, November 3rd. Finally, Zacks Research cut First Mid Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, First Mid Bancshares currently has a consensus rating of “Moderate Buy” and an average price target of $42.80.

About First Mid Bancshares

First Mid Bancshares, Inc (NASDAQ: FMBH), headquartered in Mattoon, Illinois, is a financial services holding company that offers a comprehensive suite of banking products and services through its main subsidiary, First Mid Bank & Trust. The company’s primary business activities include commercial and retail banking, mortgage origination and servicing, wealth management and trust administration, as well as treasury and cash management solutions.

Through its branch network, First Mid provides consumer deposit products such as checking and savings accounts, certificates of deposit and online banking services.